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growth, whether it was through tax cuts and other inners and supply side reforms, would you cut them some slack on that or not? >> we would -- we think there's fairly limited room for significant fiscal stimulus that would place public debt on, you know, steeper gradient in terms of its rise. right from the beginning of the process, we recognized the government can use their balance sheet and fiscal measures to offset the decline in private sector demand. so some measures which allow for an easing of the levels of deficit reduction and the pace of that is perfectly consistent with the current rating that we now have on the uk. but can the uk go on a major fiscal stimulus exercise? we don't really think there's much room for maneuver in terms of them to do that in terms of a ratings perspective. >> what happens if they -- they could go on a big tax cutting program and that got rates going. this is more about growth, isn't it, right now, because growth is a way to generate the revenue to bring down the deficit. >> yeah. but that's evident that if you do tax cuts, that you'll get more revenu
president of the czech republic when we come back. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business >>> welcome back to the program. here is a look at how stock res trading, to the up side. we are seeing increases throughout the trading session. yesterday was a different story. we started out okay and rapidly sold off. germany in particular was weak. eegan jones did dowde country to an a from an a plus. the xetra dax today after shedding better than 2% yesterday, which is a huge move for this index, rebounding by about 0.4%. small gains seen elsewhere, the ftse mib in italy up about 0.6%. keeping an eye on the presidential election process. that is currently under way. here is a look at the bond sp
, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com >>> there was a car jacking that took place, as well, in cambridge involving a mercedes suv. that car was ultimately discovered here in watertown and is pursued by the watertown police department. the pursuit went into a residential neighborhood not far from here where there was an exchange of gunfire between watertown police, nbta police officer and is two suspects in this suv. during the course of that pursuit, several explosive devices were discharged from the car at the police officers. in the exchange of the gunfire, we believe that one of the suspects was struck and ultimately taken into custody. a second suspect was able to flee he from that c
to buy more than 1,000 u.s. dollars worth of gold you have to provide your income tax number. india say major buyer of gold. it is discouraging unaccounted for money moving into gold. i think with regards to commodities, there's a lot of uncertainty about chinese economic growth. if you look at steel production, cement production, it's barely growing in china. residential construction starts last year were down 11%. so i think there's a fundamental issue with commodities. they probably moved lower. there are assets much more interesting than commodities. >> mark, if this is a situation where as you suspect this is someone got in trouble, what happens to prices from here. >> well, if we go back down again and we have a big increase in margin calls again and then money has to be raised in the equity markets to offset losses in gold, then you're going to go down somewhere under you're going to rely on the margin. and cme released yesterday. >> anybody who says that deflation is once again on the table may have nothing to do with that whatsoever. >> i think you're right. i think someone or
new york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com >>> on budget and on time, rio tinto says it's on track to expand iron ore output to 390 million tons this year under its $90 million project. the company is making good progress in its cost cutting drive, coping with the sharp fall in commodity demand. shares are higher this morning 1.74%. i want to get a thought here from martin hennecke. martin, what do you do with iron ore here despite the declines we've seen across the board for the commodity complex? >> it's a great time to manipulate because it has been monolithic growth on those metals and you see the physical buyers really moving in very strongly, for example, in china ther
going forward. noticing that the effective tax rate that google's reporting is actually 8%. that compares with 18%, both last quarter and in the same quarter a year ago. so you've got to wonder how much that low tax rate affected their profitability and eps in that quarter. >> indeed. all right, thank you, all. an important earnings report period just now and wouldn't you know, it's the fast food company that is the only one that beat on the top line, of all three. and it's up 7.5% right now. thank you. >>> coming up, just three days of the tax deadline comes news of a b involving current and former irsit uil you hea wh they did, michelle. >> oh, i'll be shocked. >>> also, we're going to speak exclusively to bb&t ceo about his company's earnings and his bank's trouble with stress tests. >> that and much more coming up on the "closing bell." you are watching cnbc, first in business worldwide. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who'
being we need more taxes. this whole cutback thing is bogus. after sequestration, the faa will have 5% more money than they did five years ago and will handle about 8% fewer flights. so these cutbacks, it's political. it's not functional. >> 5% more money than five years ago. 8% fewer flights. mike, listen, again, ant ek totally, i agree with you. but how would the faa or tsa or whoever it is execute that plan? they can't send out an e-mail, right, move more slowly than you normally do because that will get out into the hands of the media. how would you accomplish something like that? >> you lay people off or you do what homeland security did, you just cutback on overtime and the people, why do i have to work so hard? this whole thing is orchestrated by the administration. we don't have to lay these controls off, on the tsa side -- there's no waste at the tsa. we all know that. the reality of the whole thing is this is something to make it hard as possible. it's going to hurt commute percent? i have been to an airport recently where there are more tsa workers than they were people get
at $400 a share. it's got more than $100 net cash even after paying taxes, so you're paying $3,000, any earnings down 25% from what's expected. he put a ten p-e on that and this is a very cheap stock unless you believe that earnings will decline every year from here on out. that's ahead of the case and we're not buying ahead of it because we like the position that we have, you know, but we think it's an exceptionally cheap stock at this level. >> it will be one of the most-watched numbers of the quarter. thanks so much. >> thank you. >> switching gears, they were grossly negligent in the lead up to the brokerage firm's collapse. kayla tausche has more on this story which she's been following from its earlier days. >> it seems like it's been forever, david. we're getting a 61-page lawsuit from the bankruptcy court in manhattan. it takes aim at john corzine and the coo and cfo breaching fiduciary duty as it entered a downward spiral in 2011. it seeks an unspecified amount in damages. trustees won approval for a liquidation plan. in a statement, trustee louis freeh says attempts at med med
have a worry about the consumer and tax refunds will start coming now. credit conditions support employment and certainly consumer staples look very expensive. >> what about utilities up 19% so far this year? utilities are up 16% and health care up 19%. is your money safe in there? will they continue to hold up? >> we've been overweight utilities so i'm not going to be too uncomfortable with that and that's improvement with natural gas prices and in health care it's been very much about dividends and that we saw reimbursement rates that were supposed to be cut recallier this year, and i think it's too late to be on the healthcare bandwagon. >> sectors like materials which have not been with the rally and do you think some of the underperforming sectors will catch up? >> we are worried about materials still and we have to be careful in the u.s., chemicals are 20% metals and mining and look at the s&p 500 materials sector. europe is a big problem for chemical companies and even though they have shale gas as a feed stock, the problem is 20%, 25% of their business is probably going t
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, microsoft, and ibm, coming up in a little bit. stay tuned. welcnew york state, where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> another day in the red has the major averages o
caused more issues. it may be the sequester or the payroll tax, and it is always something. first quarter strong. bond yields will go way up and then -- >> no m & a. i can't break the cycle. it's not my job. 18 straight months of re numbers in europe. there are car sales down 15, 16, our car sales 15 million, okay? their housing starts and did they start any housing there? are we not -- >> we are a different place. >> what about we've had some pretty crumby data. we've had an explosion in boston. we've had cyprus and the vix is still at 14. converge extries to argue that the market's on am bi18 and it can't feel what's going on in the world right now. >> i thought it was seroquil. there is the market that just says kimberly is going to report, and i think kimberly is going to be decent and its stock's at par and then there's caterpillar they made their bed with china. china has not been able to stimulate. 25% of china's exports go to europe. there's no room in europe unless china sets up the buy program of all of the things they make in china and then destroys them in the 1930s in our cou
. you've heard that the first quarter was tough. probably payroll tax impacted more than anything else. and small business is -- and big business for that matter is totally the flux with the obama care act and what it all means. and business is looking at part-time, that you've got to keep people under 30 hours. they don't want to employ more than 50 people. and nobody really knows how this thing is going to work. now, as far as the japanese yen, every major manufacturer in the world has made a strategic decision to produce where they sell. no manufacturer can deal with the volatility in exchange rates. and if you look at where the japanese are today compared to 10, 20 years ago, there is no comparison with let's say 80% produced in north america. so the exchange rate has been dramatically reduced as a factor in our business. and at the moment, i don't see any impact. >> okay, mike, $42. we've been friends a long time. you couldn't tell me at four bucks that that was something i should -- actually, we're not allowed to do it, anyway, but you couldn't have mentioned that back in 2008 or
, tax day. >> no. >> it would have brought the militia idea, tax day, something people were hoping for. >> it gives rise to patriots day. they move it around to have it on a monday. this is america's fight for freedom. this is not just a regular marathon somewhere in the u.s. >>> ambassador woolsy, we want to thank you for your time this morning. certainly shed light and made us think of things we hadn't thought of before. >> thank you. good to be with you. >> r. james woolsy, former cia director. a lot of this information is still very new, fresh. nbc news through pete williams has been reporting that the two terrorists are brothers. one of them was born in 1993, july of 1993. he is the suspect still on the loose that police have still been trying to capture today. he is the gentlemen -- or the terrorist wearing the white hat that you're looking at right now. his brother was killed earlier this morning. he became a legal permanent resident in 2007. we have been told the brothers came with their families from russia and kerzic stan. he pointed out, again, this is just early thoughts at
places in europe, it's contracting. and in the united states, we have a tax code that is not designed to incent investment, which produces jobs and gdp growth, and hopefully we'll change that soon. >> international priority shipping saw a decline in what you charge per package to ship. what does that tell you about the global economy outside of the u.s.? >> well, i think what people are doing with the price of fuel, and this goes to larry fink's remarks a few moments ago, about the prospects for mexico, as it costs more to move goods, off a the price of fuel, they make price service trade downs, so our economy shipping was growing quite nicely. we simply have to adjust capacity and got a little out of phase with that. but it's not by accident that, again, referencing what larry said a couple years ago, we bought a wonderful company in mexico, which is now a big part of the fedex portfolio, because we believe there's be a lot of near shoring and the nafta trades will be quite strong. >> yeah, i am loving this mexico story. you're investing in mexico as well, really interesting. fred, l
for not doing so when carnival pays a poet total tax here. >> all right. let's go to scott in boston with breaking news. this is reporting by the boston globe which says that authorities have now gotten an image of somebody dropping a bag at the site of the explosion and that could potentially be a suspect. we don't know if there is an identity on that suspect. i want to show you down here some of what's been going on. this is a fire department ladder here but we saw just a short time ago. the news is the boston globe reporting that authorities have an image of somebody placing a package at the site of the tragic explosion on monday and that could be a suspect. we're following this and we'll keep you posted. >> people are asked if they took video with their mobile phones to turn that in. do we have any idea where that image came from? >> i don't. while i talk, let me show you more of these guys off the roof. there are a lot of people with cell phones and also surveillance cameras, at least three as we reported yesterday that were trained on the finish line. and they were reporting on
for the industry in the fourth quarter due to tax law changes and just a seasonal spike. but b of a had better than peer loan growth. commercial loan growth was up 3.4% link to quarter. that includes international where they're taking share but u.s. loan growth was up in the quarter. loan growth at b of a certainly looks better than their megacap peers, at least this quarter. >> okay. anthony, thank you for your quick analysis this morning. thank you for calling in. i'm sure we'll talk to you again soon. >>> in the meantime, coming up, we've got a high profile bust at an art gallery involved celebrity poker international money laundering and racketeering. more on that story next. and still to come, david blitzer, the chairman of the index committee for s&p dow jones when we return. but at xerox we've embraced a new role. working behind the scenes to provide companies with services... like helping hr departments manage benefits and pensions for over 11 million employees. reducing document costs by up to 30%... and processing $421 billion dollars in accounts payables each year. helping thousands of c
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american express is probably getting hit on here is what's happening with tax rates, happened in the first quarter of this year, and the other issue that's really occurring is i think businesses are still holding back on spending. significant percentage of their revenue comes from businesses. and you know, on the long-term, also, we have to be very, very aware, american express, on the long-term, is going to -- >> they're having a fire drill here at the new york stock exchange. >> it was scheduled. >> pre-scheduled, exactly. it was scheduled already. so ignore the noise here happening around me. >> okay. >> very quickly, i want to get to bruce mccain as well, michael. finish your thought. >> my thought was, you have to be careful about companies like paypal, all these other very inexpensive swaywaways to colle money, it will be a hit on american express margins, eventually. >> bruce mccain, do you want to buy on these dips we've been seeing, or is it time to start taking money off the table at these levels? >> i think you need to wait a little bit. part of it is, there's still excessively
Search Results 0 to 19 of about 20 (some duplicates have been removed)